The company is part of a group along with Apolodor Grup Construct, Apolodor Demolari, Central Constructii si Demolari. The four companies posted RON83.2 million revenue in 2017, 14% lower than in the previous year, ZF has calculated from Finance Ministry data.
Apolodor Com Impex filed for insolvency in 2015, due the shrinking construction market, which declined by 40% over several years. The insolvency was due to payment delays from customers, as specified at the time.
After 2015, Apolodor signed contracts mostly with private sector customers instead of public sector companies, says Radu Ouatu, which ensured financial stability for the company. Prior to going insolvent, public works generated one third of Apolodor Com Impex’s business.
“Even though the revenue is down to half of what it was in 2010-2014, when we did major public projects, we’ve participated in and completed as subcontractor (…) a significant number of private projects,” says Radu Ouatu, general manager and owner of Apolodor Com Impex.(EUR1=RON4.6410)
(English version by Loredana Fratila-Cristescu)